— J.C. Penney announced on Friday that it will close four store in Ohio, part of a move to consolidate brick-and-mortar operations.

The retail chain said in March that it will close up to 140 stores in the coming months, and has now identified those locations. Here are five things to know about what stores will close:

1. JC Penney announced the locations of 138 stores it plans to close. The states with the largest number of closings are North Carolina, Wisconsin, Texas, Minnesota, Illinois, Michigan and Pennsylvania, according to CBS.

2. Stores closing in Ohio include the store at the St. Mary’s Square shopping center in St. Mary’s. Other closing locations in the state include New Towne Mall in New Philadelphia; Richond Town Square in Richmond Heights; and Findlay Village Mall in Findlay.

Gibson guitar company facing imminent bankruptcy

Published: Thursday, February 15, 2018 @ 2:51 PMBy:
B.J. Bethel

The maker of the Les Paul, Firebird, Flying V and dozens of famous electric and acoustic guitars is facing an uncertain future according to reports from the Nashville Post, and several music and financial publications.

— Gibson guitar company, which has been a staple brand among various musical instruments since 1902, is facing bankruptcy.

The company, which generates $1 billion a year in revenues, recently moved out of its Nashville warehouse, where it had operated since the mid 1980s.

The company owner since then, Henry Juskiewicz, is trying to re-order the company according to the Post but is facing a battle with creditors over bad business decisions. The company recently sold Baldwin piano, and is hoping to see a boost in cash from the various electronics companies it had purchased the last several years.

Gibson began in 1902 in Kalamazoo, Mich., producing various instruments, including acoustic guitars and the Les Paul, designed by noted guitarist Les Paul, which became one of the most iconic instruments ever made. The Gibson Les Paul began production in 1952, and became a staple of the rock and roll movement since. The company since developed other iconic guitars such as the SG, Firebird, the Flying V and he ES-335 among others.

Various reports, citing experts in the music and financial business, said Gibson would likely survive a bankruptcy due to its name value and tradition, as well as the a strong core business, according to Moody’s, who also cited the company’s balance sheets and organization issues as reasons to downgrade the company.

“When we started looking into expanding the business, it was obvious that Dayton needed a hometown dealer,” Bryan Hoersten, Dayton store manager, said in a chamber release. “The new store is very exciting for everyone in the company and we look forward to making long lasting relationships with our new and old customers in Dayton.”

The new 7,500-square-foot facility has more than 200 trailers on the lot. The location will employ four people, with plans to hire another two to three in the immediate future, the chamber said.

A ribbon cutting and open house are planned for 10:30 a.m. Feb. 21 at the new location, 5135 Wadsworth Road.